This is a very bullish signal and was last crossed on the upside on 20th August 2012, from which date the ASPI rose powerfully by 21% from 4945 to 5972 on 28th September 2012. The ASPI is currently at a similar stage now.
In addition, the ASPI has also formed an inverted head and shoulders pattern, which is another bullish signal.
Further, the ASPI is also poised to break above the long term pennant formation marked by the highs and lows of the index.
If the ASPI holds its gains over the next couple of days, all the above technical indicators point to strong market upside, which is also supported by likely progressively lower interest rates. First stop for the ASPI could be in the region of 6000.